There Is Nothing Wrong with Falling Prices

According to "TheUpshot" column in the New York Times, there's a problem with cheap goods that needs fixing: "There is a worldwide glut that includes oil wells, steel plants, and eager would-be workers, and it will take more than a United States presidential election and a few months of solid global growth to fix it." The problem is that this presumes the true existence of what is really a mirage: an economy-wide glut.